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5d ago

Block Enters S&P 500 With Shares Climbing on Index-Driven Buying

Investors will now look to see if Block can leverage Bitcoin holdings to boost Cash App’s banking services

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WASHINGTON, DC – SEPTEMBER 5: Twitter chief executive officer Jack Dorsey testifies during a House Committee on Energy and Commerce hearing about Twitter’s transparency and accountability, on Capitol Hill, September 5, 2018 in Washington, DC. Earlier in the day, Dorsey faced questions from the Senate Intelligence Committee about how foreign operatives use their platforms in attempts to influence and manipulate public opinion. (Photo by Drew Angerer/Getty Images)
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Overview

  • Block officially joined the S&P 500 on July 23 as the second blockchain-focused member after Coinbase, triggering roughly an 8% rise in its stock from passive-fund inflows
  • The inclusion validates Jack Dorsey’s multi-year Bitcoin strategy, underpinned by a corporate treasury of 8,584 BTC and a policy of reinvesting 10% of monthly crypto-product profits
  • Cash App’s shift into a full-service banking platform with 57 million active users faces intensified scrutiny to sustain revenue growth
  • Block plans to roll out its own Bitcoin mining chips and systems in the second half of 2025 to challenge established Chinese suppliers
  • Analysts caution that the initial stock bump may prove short-lived unless Block’s core payments and crypto businesses execute on scaling and profitability